Utility News Desk !!! Home prices are rising. Home loan rates have also increased by about two and a half percent, because people are taking loans to buy new houses. In future, the demand for both housing and debt may increase further, so now is the right time to buy a house. Before the houses become expensive, buy and home loan should be your last option. If you will get a loan for about 20 to 25 years, then definitely look for home loan options available at affordable rates. So if you want to fulfill the dream of buying a house, then it should also be planned accordingly, let’s know how…
Take this check before purchasing a house …
There should be 20 to 30 percent cash in your pocket. The credit score between 750 and 800 will help you get a loan easily. It is better if you already have a car or personal loan. Plan to buy property within your budget. Before purchasing the property, please check the related approvals.
Make a budget like this …
Do check your bank balance. You can get a loan of 75 to 90 percent of the total expenditure incurred in daily life. If you have invested somewhere, use its profits. FD or mutual funds will prove beneficial. PF is also a means of making budget for the employed people. About 90 percent of these amounts can be withdrawn.
This planning is necessary to buy a house …
Research on property prices, market mood, location, facilities, transport connectivity etc. Discuss with a professional agent to know the advantages and disadvantages of the property you are going to buy. Before taking the initiative to buy the house, prepare the necessary documents. Time will be saved and there will be no dispute.
